DEFINITION of 'Vietnamese Hao'

A Vietnamese currency previously issued by the Vietnam National Bank. The hao, or hào, is one-tenth of a Vietnamese dong and can be subdivided into 10 xu. Neither the xu or the hao are currently in use in Vietnam.

BREAKING DOWN 'Vietnamese Hao'

The word hao has similar linguistic origins as the Chinese hào, which means one-tenth of a currency unit. It was issued by the Vietnam National Bank (which became the State Bank of Vietnam in 1960) first as bank notes then as aluminum coins. As inflation kicked in, the denominations for the Vietnamese dong became so high that the hao was no longer deemed necessary. For example, a can of Coke cost around 8,000 dong in 2010, which translates to 80,000 hao.

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